Great news for MPESA users after Safaricom's new announcement

MPESA payments will now eliminate unscrupulous middle people.

With the new development, customers in Kenya can link their PayPal accounts to their M-PESA wallets, enabling them to easily and securely buy goods and services from merchants around the globe.

In addition, M-PESA customers can still receive and withdraw money from more than 140,000 agents across the country.

Similarly, the new service will give Kenyan merchants the opportunity to boost their reach and grow their business internationally.

“M-PESA’s collaboration with PayPal will open up global market places and the global economy to millions of Kenyans and Kenyan-based businesses. Beyond money transfers, this development ushers in a new era of speed and convenience beyond borders, as we work towards innovating robust platforms through which more entrepreneurs and consumers can benefit from the growing eCommerce industry,” said Joseph Ogutu, Director – Strategy, Safaricom.

To make online purchases, customers will be required to set up PayPal accounts, which they can top up in real-time using their M-PESA balances. Customers can then withdraw funds within a timespan of few hours to three days, depending on the transaction amount.

In addition to linking Kenyan businesses and shoppers to more than 18 million merchants around the world through PayPal, the new service will also allow local businesses to sell their goods and services to more than 210 million active PayPal users across the globe in up to 25 international currencies.

“PayPal’s collaboration with M-PESA is part of the company’s long-term strategy to enable e-commerce and democratise financial services on the African continent,” says Efi Dahan, PayPal General Manager for the Middle East, Africa, and Russia.

“We are excıted to brıng the M-PESA mobile wallet and PayPal joint services to the Kenyan market, which makes it more convenient and secure to withdraw and add money to their accounts while participating in the global digital economy,” said Dahan.

“We are proud to have been chosen by these two world-class payments providers to bridge the gap between the services offered in developed countries with those available in emerging markets – which is the cornerstone of TransferTo’s mission,” said Peter De Caluwe, CEO at TransferTo.

“This service is a major milestone in the evolution of cross-border mobile payments, in that TransferTo’s technology is creating a fundamental link between M-PESA users in Kenya and PayPal’s global network, and seamlessly connecting Kenyan shoppers and businesses to the global eCommerce world,” said De Caluwe.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Pilots fall asleep before landing, watch what happened next [Flight Track Video]

Pilots fall asleep before landing, watch what happened next [Flight Track Video]

Why Uhuru is silent on Ruto's win - Lawyer Steve Ogolla explains

Why Uhuru is silent on Ruto's win - Lawyer Steve Ogolla explains

National Assembly gives way forward on first sitting of 13th Parliament

National Assembly gives way forward on first sitting of 13th Parliament

Police hunt for duo in connection with murder of IEBC returning officer

Police hunt for duo in connection with murder of IEBC returning officer

US Congress delegation meets Raila Odinga in post election visit

US Congress delegation meets Raila Odinga in post election visit

Sakaja and Igathe's lunch meet elicits positive reactions

Sakaja and Igathe's lunch meet elicits positive reactions

Jaguar, Sabina and Mbadi get tickets to parliament

Jaguar, Sabina and Mbadi get tickets to parliament

Dying is illegal in these 7 places

Dying is illegal in these 7 places

Ruto's swearing-in will go on without Uhuru, Gachagua asserts

Ruto's swearing-in will go on without Uhuru, Gachagua asserts